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Auslanco - GBP/JPY and GBP/USD (newstrade)

  • #128,181
  • Oct 29, 2008 11:12am Oct 29, 2008 11:12am
Quoting forexer
the beast is about to take off,and a long position is established already

just went long at 159.50 targetin 163.00

S/L :200 pips below the entry price

warning:DON'T follow me ,i'm aggressive speculator
with all due respect, and even if it works out, that's what i call a bad trade, going long in the top is just not right.... we dipped as low as 153.50, why didn't u buy there?
  • #128,182
  • Oct 29, 2008 11:13am Oct 29, 2008 11:13am
Quoting maryinvest
I think GJ now broke out your third top, right?
Two tops established but still inside triangle so it won't be applied this case, right?
Right!, and now QQE cross up in 1h TF, 4h bullish & 1h too.
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #128,183
  • Oct 29, 2008 11:14am Oct 29, 2008 11:14am
Quoting lilmoe
with all due respect, and even if it works out, that's what i call a bad trade, going long in the top is just not right.... we dipped as low as 153.50, why didn't u buy there?
well spoken.
  • #128,184
  • Oct 29, 2008 11:14am Oct 29, 2008 11:14am
Quoting lilmoe
price does seem to get pretty exhausted, but don't risk a short at the top right now, and if u did make sure ur stop is tight. this might be a classic trick. a safer short would be below 157... this will reach higher if 160 is broken.
already shorted with 50pips SL.try my lucy today.
glad you are back
  • #128,185
  • Oct 29, 2008 11:14am Oct 29, 2008 11:14am
Quoting JhonMonsalve
Right!, and now QQE cross up in 1h TF, 4h bullish & 1h too.
indicators do not matter. when price drops off the indicators will follow.
  • #128,186
  • Oct 29, 2008 11:17am Oct 29, 2008 11:17am
Quoting SamiFX
Destination is north, follow the compass.. my TP is 164.08
Yes, all three bullish candles closed heading up to Weekly R1 level
  • #128,187
  • Oct 29, 2008 11:18am Oct 29, 2008 11:18am
Quoting Dr.Geppynius
indicators do not matter. when price drops off the indicators will follow.
Yup, You're right! I follow PA too. Is better.
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #128,188
  • Oct 29, 2008 11:20am Oct 29, 2008 11:20am
Quoting lilmoe
with all due respect, and even if it works out, that's what i call a bad trade, going long in the top is just not right.... we dipped as low as 153.50, why didn't u buy there?
Gosh...I haven't got any positions, but i'm prepared to long.
  • #128,189
  • Oct 29, 2008 11:21am Oct 29, 2008 11:21am
Quoting moneybookers
already shorted with 50pips SL.try my lucy today.
glad you are back
Hi moneybookers,

I trade AJ too. But drive carefully with aj, the value /pip is double then geppy ! Double means: winners are double, but losers also. I`am looking for take profit at 66.60 and maybe with luck 70.30.

green pips to you
  • #128,190
  • Oct 29, 2008 11:22am Oct 29, 2008 11:22am
Quoting Dr.Geppynius
indicators do not matter. when price drops off the indicators will follow.
careful what u say about the QQE, loool
  • #128,191
  • Oct 29, 2008 11:23am Oct 29, 2008 11:23am
Let the party begin...

B
  • #128,192
  • Oct 29, 2008 11:24am Oct 29, 2008 11:24am
Quoting lilmoe
careful what u say about the QQE, loool
lol the holy moly qqe. nothing said against her/him/it

must be a she with big arguments :o
  • #128,193
  • Oct 29, 2008 11:24am Oct 29, 2008 11:24am
got Stop out
  • #128,194
  • Oct 29, 2008 11:24am Oct 29, 2008 11:24am
this is not a daily candle for geppy, this is nothing...
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  • #128,195
  • Oct 29, 2008 11:24am Oct 29, 2008 11:24am
another excitign day in the land of forex trading . i hope you all doing well .

I got this through a service i subsribe for and wanted to share it with you. It is a long post ... but maybe one of the best. It pertains to futures traders ... but also applies to 99 % of forex traders

1. Many futures traders trade without a plan. They do not define
specific risk and profit objectives before trading. Even if they
establish a plan, they "second guess" it and don't stick to it,
particularly if the trade is a loss. Consequently, they overtrade and
use their equity to the limit (are under capitalized) , which puts
them in a squeeze and forces them to liquidate positions.

Usually, they liquidate the good trades and keep the bad ones.

2. Many traders don't realize the news they hear and read has already been discounted by the market.

3. After several profitable trades, many speculators become wild and aggressive. They base their trades on hunches and long shots, rather than sound fundamental and technical reasoning, or put their money into one deal that "can't fail."

4. Traders often try to carry too big a position with too little
capital, and trade too frequently for the size of the account.

5. Some traders try to "beat the market" by day trading, nervous
scalping, and getting greedy.

6. They fail to pre-define risk, add to a losing position, and fail
to use stops.

7 .They frequently have a directional bias; for example, always
wanting to be long.

8. Lack of experience in the market causes many traders to become emotionally and/or financially committed to one trade, and unwilling or unable to take a loss. They may be unable to admit they have made a mistake, or they look at the market on too short a time frame.

9. They overtrade.

10. Many traders can't (or don't) take the small losses. They often
stick with a loser until it really hurts, then take the loss. This is
an undisciplined approach...a trader needs to develop and stick with a system.

11. Many traders get a fundamental case and hang onto it, even after the market technically turns. Only believe fundamentals as long as the technical signals follow. Both must agree.

12. Many traders break a cardinal rule: "Cut losses short. Let
profits run."

13. Many people trade with their hearts instead of their heads. For
some traders, adversity (or success) distorts judgment. That's why
they should have a plan first, and stick to it.

14. Often traders have bad timing, and not enough capital to survive the shake out.

15. Too many traders perceive futures markets as an intuitive arena. The inability to distinguish between price fluctuations which reflect a fundamental change and those which represent an interim change often causes losses.

16. Not following a disciplined trading program leads to accepting
large losses and small profits. Many traders do not define offensive and defensive plans when an initial position is taken.

17. Emotion makes many traders hold a loser too long. Many traders don't discipline themselves to take small losses and big gains.

18. Too many traders are under financed, and get washed out at the extremes.

19. Greed causes some traders to allow profits to dwindle into losses while hoping for larger profits.

This is really a lack of discipline. Also, having too many trades on
at one time and overtrading for the amount of capital involved can
stem from greed.

20. Trying to trade inactive markets is dangerous.

21. Taking too big a risk with too little profit potential is a sure
road to losses.

22. Many traders lose by not taking losses in proportion to the size
of their accounts.

23. Often, traders do not recognize the difference between trading
markets and trending markets.

Lack of discipline is a major shortcoming.

24. Lack of discipline includes several lesser items; i.e.,
impatience, need for action, etc. Also, many traders are unable to
take a loss and do it quickly.

25. Trading against the trend, especially without reasonable stops,
and insufficient capital to trade with and/or improper money
management are major causes of large tosses in the futures markets; however, a large capital base alone does not guarantee success.

26. Overtrading is dangerous, and often stems from lack of planning.

27. Trading very speculative commodities is a frequent mistake.

28. There is a striking inability to stay with winners. Most traders
are too willing to take small profits and, therefore, miss out on big
profits. Another problem is under capitalization; small accounts
can't diversify, and can't use valid stops.

29. Some traders are on an ego trip and won't take advice from
another person; any trades must be their ideas.

30. Many traders have the habit of not cutting losses fast, and
getting out of winners too soon. It sounds simple, but it takes
discipline to trade correctly. This is hard whether you're losing or
winning.

Many traders overtrade their accounts.

31. Futures traders tend to have no discipline, no plan, and no
patience. They overtrade and can't wait for the right opportunity.
Instead, they seem compelled to trade every rumor.

32. Staying with a losing position because a trader's information (or worse yet, intuition) indicates the deteriorating market is only a
temporary situation can lead to large losses.

33. Lack of risk capital in the market means inadequate capital for
diversification and staying power in the market.

34. Some speculators don't have the temperament to accept small
losses in a trade, or the patience to let winners ride.

35. Greed, as evidenced by trying to pick tops or bottoms, is a
frequent error.

36. Not having a trading plan results in a lack of money management. Then, when too much ego gets involved, the result is emotional
trading.

37. Frequently, traders judge markets on the local situation only,
rather than taking the worldwide situation into account.

38. Speculators allow emotions to overcome intelligence when markets are going for them or against them. They do not have a plan andfollow it. A good plan must include defense points (stops).

39. Some traders are not willing to believe price action, and thus
trade contrary to the trend.

40. Many speculators trade only one commodity.

41. Getting out of a rallying commodity too quickly, or holding
losers too long results in losses.

42. Trading against the trend is a common mistake. This may result
from overtrading, too many days trades, and under capitalization,
accentuated by failure to use a money management approach to trading futures.

43. Often, traders jump into a market based on a story in the morning paper; the market many times has already discounted the information.

44. Lack of self-discipline on the part of the trader and/ or broker
creates losses. Futures traders tend to do inadequate research.

45. Traders don't clearly identify and then adhere to risk
parameters; i.e., stops.

46. Most traders overtrade without doing enough research. They take too many positions with too little information. They do a lot of day trading for which they are under margined; thus, they are unable to accept small losses.

47. Many speculators use "conventional wisdom" which is either local, or "old news" to the market. They take small profits, not riding gains as they should, and tend to stay with losing positions. Most traders do not spend enough time and effort analyzing the market, and/or analyzing their own emotional make-ups.

48. Too many traders do not apply money management techniques. They have no discipline, no plan. Many also overstay when the market goes against them, and won't limit their losses

49 Many traders are undercapitalized. They trade positions too large, relative to their available capital. They are not flexible enough to change their minds or opinions when the trend is clearly against
their positions. They don't have a good battle plan and the courage to stick to it.

50. Don't make trading decisions based on inside information. It's
illegal, and besides, it's usually wrong.
Blogging daily now at www.volume.zone
  • #128,196
  • Oct 29, 2008 11:25am Oct 29, 2008 11:25am
Quoting forexer
the beast is about to take off,and a long position is established already

just went long at 159.50 targetin 163.00

S/L :200 pips below the entry price

warning:DON'T follow me ,i'm aggressive speculator
established long position is in play ,and the beast is accelerating
I always knew that someday I would make it big
  • #128,197
  • Oct 29, 2008 11:25am Oct 29, 2008 11:25am
Quoting lilmoe
careful what u say about the QQE, loool
im watchin
Trade what you see, not what you think.
  • #128,198
  • Oct 29, 2008 11:27am Oct 29, 2008 11:27am
Quoting malcolmb14
another excitign day in the land of forex trading . i hope you all doing well .

I got this through a service i subsribe for and wanted to share it with you. It is a long post ... but maybe one of the best. It pertains to futures traders ... but also applies to 99 % of forex traders

1. Many futures traders trade without a plan. They do not define
specific risk and profit objectives before trading. Even if they
establish a plan, they \"second guess\" it and don't stick to it,
particularly if the trade is a loss. Consequently, they overtrade and
use their equity to the limit (are under capitalized) , which puts
them in a squeeze and forces them to liquidate positions.

Usually, they liquidate the good trades and keep the bad ones.

2. Many traders don't realize the news they hear and read has already been discounted by the market.



50. Don't make trading decisions based on inside information. It's
illegal, and besides, it's usually wrong.

WOW!

49 out of 50 are me!
  • #128,199
  • Oct 29, 2008 11:27am Oct 29, 2008 11:27am
Quoting karmostaji
im watchin

lol

nothing said
  • #128,200
  • Oct 29, 2008 11:27am Oct 29, 2008 11:27am
Quoting karmostaji
im watchin
Like Karmo says: QQE doesn't lie. lol!
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
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